Allied Motion Technologies (NASDAQ:AMOT) Downgraded by Zacks Investment Research to “Hold”

Zacks Investment Research downgraded shares of Allied Motion Technologies (NASDAQ:AMOT) from a strong-buy rating to a hold rating in a research report released on Wednesday, January 3rd.

According to Zacks, “Hathaway Corporation is engaged in the business of designing, manufacturing and selling advanced systems and instrumentation to the worldwide power and process industries, as well as motion control products to a broad spectrum of customers throughout the world. The company’s power instrumentation products helps ensure that electric utilities provide high quality service to consumers of electricity. The company’s equipment assists the electric power system operators in operating and maintaining proper system performance. “

Several other research firms have also commented on AMOT. TheStreet upgraded Allied Motion Technologies from a c+ rating to a b rating in a research note on Thursday, November 16th. BidaskClub lowered Allied Motion Technologies from a buy rating to a hold rating in a research note on Tuesday, December 5th.

Shares of Allied Motion Technologies (NASDAQ:AMOT) traded up $0.40 during trading on Wednesday, hitting $35.24. The company had a trading volume of 40,689 shares, compared to its average volume of 33,096. The company has a current ratio of 2.80, a quick ratio of 1.76 and a debt-to-equity ratio of 0.71. Allied Motion Technologies has a 1 year low of $19.09 and a 1 year high of $35.47. The stock has a market cap of $329.34, a price-to-earnings ratio of 37.49, a PEG ratio of 1.55 and a beta of 1.94.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Nationwide Fund Advisors lifted its holdings in Allied Motion Technologies by 11.8% in the second quarter. Nationwide Fund Advisors now owns 4,778 shares of the technology company’s stock valued at $130,000 after acquiring an additional 505 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in Allied Motion Technologies by 7.0% in the second quarter. The Manufacturers Life Insurance Company now owns 6,144 shares of the technology company’s stock valued at $167,000 after purchasing an additional 401 shares during the period. Wells Fargo & Company MN raised its position in Allied Motion Technologies by 74.6% in the third quarter. Wells Fargo & Company MN now owns 7,520 shares of the technology company’s stock valued at $191,000 after purchasing an additional 3,213 shares during the period. Citigroup Inc. increased its position in shares of Allied Motion Technologies by 130.8% during the second quarter. Citigroup Inc. now owns 7,449 shares of the technology company’s stock worth $203,000 after acquiring an additional 4,222 shares during the period. Finally, Tudor Investment Corp ET AL purchased a new stake in shares of Allied Motion Technologies during the second quarter worth $207,000. Hedge funds and other institutional investors own 41.12% of the company’s stock.

TRADEMARK VIOLATION WARNING: This piece was originally published by The Ledger Gazette and is owned by of The Ledger Gazette. If you are viewing this piece on another site, it was illegally copied and republished in violation of US & international copyright law. The legal version of this piece can be read at https://ledgergazette.com/2018/01/13/zacks-investment-research-lowers-allied-motion-technologies-amot-to-hold.html.

Allied Motion Technologies Company Profile

Allied Motion Technologies Inc designs, manufactures and sells precision and specialty motion control components and systems used in a range of industries. The Company serves various markets, including vehicle, medical, aerospace and defense, electronics and industrial. It focuses on motion control applications.

Get a free copy of the Zacks research report on Allied Motion Technologies (AMOT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Allied Motion Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Allied Motion Technologies and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply